Although no information was released as to the terms of the deal, sources say the headline price was around $20 million.
Avocarrot joined the London-based company builder that targets technical graduates to help them become entrepreneurs before it started investing in the startups it puts through its program.
Described as a native advertising Supply-Side Platform, Avocarrot offer a monetization solution for mobile apps via less intrusive advertising dubbed “native advertising”. “It’s very similar to what Facebook, Twitter, and Pinterest do for their own apps (showing ads that match the design of their platforms), but we provide this functionality for all other apps that don’t have the resources of Facebook to create and continuously optimize native ads themselves,” explains Avocarrot co-founder Conno Christou.
Avocarrot’s four technical founders, Conno Christou, Georgios Makkoulis, Giorgos Eracleous, and Panagiotis Papageorgiou, and 14 additional Avocarrot engineers will join the Ampiri team of engineers and data scientists.
“Avocarrot brings immediate value to Glispa Global Group and together we’re offering one of the top independent, native advertising solutions on the market today. With two acquisitions this year and the launch of the Ampiri native ad mediation platform we’re solidly positioned to drive monetization for app developers and help them reach their full revenue potential,” said Gary Lin Founder and CEO of Glispa Global Group in a statement.